Section 81.14 — Excise Tax Act: Payment by Minister on assessment

Where an assessment establishes that there is an overpayment by the person assessed, the Minister shall pay to that person the amount of the overpayment as set out in the notice of assessment. Where an assessment establishes that an amount is payable pursuant to any of sections 68 to 68.29, or a credit is allowable pursuant to section 81.1, to the person assessed, that person is deemed to have paid, on the day on which the notice of assessment is sent to him, an amount equal to the lesser of where the assessment is an original assessment, the aggregates described in subparagraphs (a)(i) and (ii) of the definition amount owing in subsection 81.13(7), and where the assessment is a variation of an assessment, or a reassessment, the amounts described in subparagraphs (b)(i) and (ii) of that definition on account of the person’s tax, penalty, interest or other sum payable under this Act in respect of the matter covered by the assessment; and the Minister is deemed to have paid, on that day, to the person assessed in accordance with section 72 the amount, if any, by which the amount deemed by paragraph (a) to have been paid exceeds the aggregate of the credits described in clause (a)(ii)(B) or subclause (b)(ii)(B)(II), as the case may be, of that definition. Subsection (2) ceases to apply in respect of an assessment if the assessment is subsequently vacated or varied or a reassessment is made in respect of any matter covered by the assessment but, for greater certainty, subject to this subsection, where the assessment is varied or the reassessment is made otherwise than pursuant to subsection 81.15(4) or 81.38(1), subsection (2) applies in respect of the varied assessment or the reassessment, as the case may be.